The induction motor market is expected to exhibit high growth during the forecast period. The driving factor for the growth of induction motor market is its simple and rugged physical structure. Induction motors are robust and can operate in any environmental condition. Due to the absence of brushes and slip rings, they are safe to operate in polluted and explosive working conditions. And, unlike synchronous motors, induction motors do not require starting mechanisms as they have a self-starting torque. This leads to their reliability, cost effective operation, and easy maintenance. Hence, induction motors are preferred over synchronous motors. However, major restraint for growth of the induction motor market is the difficulty in the speed control of induction motors. For fine speed control applications, DC motors are preferred over induction motors. Due to advanced power electronics, variable frequency drives using induction motors are used in industries for speed control at present. As per the study conducted by Market Research Future, the global Induction Motors Market is likely to grow at the CAGR of around 12%.

The global induction motor is in major demand due to elevated need for power savings in households, manufacturing hubs, and energy infrastructure. Induction motors are also known as asynchronous motors. These motors are used because they are reliable, carry smaller loads, and reduce aftersales service and cost. Importantly, they can help save a substantial amount of energy. Induction motors are used widely in applications such as compressor load applications, fans, and others. Another trend driving the Global Induction Motor Market is the rising focus on reducing greenhouse gas emissions. This is revving up the use of induction motors in every sector, driving the demand for induction motors substantially. The Global Induction Motor Market will also benefit from the rising government funding, which is encouraging manufacturers to invest in induction motor manufacturing.

Geographically, the Global Induction Motors Market has been divided into North America, Europe, Asia Pacific and Rest of the World. North America and Europe constitute the largest markets for induction motors in terms of consumption, production, and exports. On the other hand, emerging economies such as Korea, Brazil, India, China, Thailand, and South Africa are presenting massive opportunities for global manufacturers.

Induction Motors Global Market - Competitive Analysis

The global market for induction motors is one of the most technological advance market. The global induction motors landscape has many vendors and competition is very intense. Vendors compete on the basis of custom services, solutions and price. Established vendors are expanding operations by setting up new units in emerging markets and extending their sales networks. Mergers and acquisitions between large vendors are also part of the landscape.

To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the global Induction Motors market

To provide insights about factors affecting the market growth

To Analyze the Induction Motors market based on various factors- price analysis, supply chain analysis, Porters five force analysis.

To provide historical and forecast revenue of the market segments and sub-segments with respect to six main geographies and their countries- North America, Europe, Asia-Pacific, South America, Middle East, and Africa

To provide country level analysis of the market with respect to the current market size and future prospective

To provide country level analysis of the market for segment by End User, by Application, and by region as well as its sub segments

To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, and new product developments in the global Induction Motors market

Segments

The Induction motor market has been segmented on the basis of end users as residential, commercial and industrial. On the basis of product the market has been segmented as Synchronous, direct current and asynchronous motors.

North America and Europe are the leading regions in the global Induction motor market mainly due to the high demand and production rate. Asia-Pacific is the other growing region mainy due to the recent boom in their manufacturing sector.